Facebook, Comcast, Generac, eBay and more
Take a look at some of the biggest players in the pre-market:
Facebook (FB) – Facebook beat analysts’ forecast by $ 1.03 per share, with quarterly profit of $ 3.30 per share. The social media giant’s revenues were also well above Wall Street forecasts, with digital ad spending continuing to rise amid the pandemic. Facebook said ad revenue could be hit later this year, due to Apple’s new privacy policies that make ad targeting more difficult. Facebook shares jumped 7.6% in pre-market trading.
Comcast (CMCSA) – Parent company NBCUniversal and CNBC broke estimates by 17 cents per share, with quarterly earnings of 76 cents per share. Revenue also exceeded estimates, in part due to strong growth in broadband and mobile customers. Comcast shares jumped 2.9% in the pre-market.
Generac (GNRC) – The generator maker earned $ 2.38 per share for the first quarter, compared to a consensus estimate of $ 1.87 per share. Revenue also exceeded expectations due to the strength of the residential market and Generac raised its sales guidance for the full year. Its shares jumped 6% in the pre-market.
EBay (EBAY) – EBay posted above consensus results on the upper and lower lines for its most recent quarter, but the online marketplace operator gave a weaker-than-expected outlook for the current quarter. Its shares fell 7.6% in pre-market.
Caterpillar (CAT) – Shares of Caterpillar rose 1.6% in pre-market trading after the heavy equipment maker beat estimates by nearly $ 1 per share, with quarterly profit of $ 2.87 per share. Revenues were also higher than expected as the economic recovery boosted demand for equipment.
McDonald’s (MCD) – The restaurant chain came in at 11 cents per share ahead of consensus, with quarterly profit of $ 1.92 per share. Revenue was also higher than expected, boosted by a better than expected 13.6% same-store sales jump in the United States.
Merck (MRK) – A pandemic-induced drop in doctor’s visits was one of the main reasons for the drugmaker’s first quarter shortfall. Merck missed expectations of 23 cents per share, with quarterly earnings of $ 1.40 per share. Its stock slipped 1.8% in pre-market action.
Royal Caribbean (RCL), Norwegian Cruise Line (NCLH), Carnival (CCL) – Cruise line shares rallied in pre-market trade after Centers for Disease Control and Prevention say they are determined to restart cruises in the United States by midsummer. Royal Caribbean rose 2.4%, Norwegian added 3% and Carnival jumped 2.8%.
Bristol Myers (BMY) – The drugmaker came in at 7 cents per share below estimates, reporting quarterly profit of $ 1.74 per share. Revenue was also lower than forecast, as sales of cancer drugs fell short of Street’s forecast. The stock fell 2.3% in pre-market.
Apple (AAPL) – Apple gained 3% in pre-market share after exceeding the consensus estimate of 99 cents per share, with quarterly profit of $ 1.40 per share. Revenue also far exceeded estimates for its last quarter, with Apple’s results driven by increased demand for new 5G iPhones. It also increased planned share buybacks by $ 90 billion. However, Apple has warned of a negative impact from the global chip shortage.
Ford Motor (F) – Ford reported quarterly earnings of 89 cents per share, compared to a consensus estimate of 21 cents per share. The automaker’s earnings also beat analysts’ forecasts. Ford said a global chip shortage could ease this summer, but it could cut second-quarter production in half. Ford shares fell 2.9% in pre-market trading.
Qualcomm (QCOM) – Qualcomm broke estimates by 23 cents per share, with quarterly profit of $ 1.90 per share. The chipmaker’s revenue also beat expectations, and Qualcomm has given a bullish forecast for the current quarter as supply constraints ease. Its share jumped 5.1% in pre-marketing.
Cheesecake Factory (CAKE) – Shares of Cheesecake Factory were up 6.7% pre-market after the company reported quarterly earnings of 20 cents per share, compared to analysts’ expectations of a loss of 6 cents per share. The restaurant chain’s revenue also exceeded expectations.
Align Technology (ALGN) – Align the surpassed estimate of 47 cents per share, with quarterly profit of $ 2.49 per share. Income also exceeded estimates. Sales jumped from a year ago due to increased demand for its tooth straighteners, although profits fell due to higher expenses. Its shares were up 4.3% in the pre-market.